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Havas buys Abernathy MacGregor PR

Havas Advertising is to buy US financial PR firm Abernathy MacGregor, after beating Cordiant Communications in the bidding stakes.

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LONDON (Brand Republic) - Havas Advertising is to buy US financial PR firm Abernathy MacGregor, after beating Cordiant Communications in the bidding stakes.

The terms of the deal have not been revealed, but it is believed that Havas offered $40m-$45m in cash, plus further payments over five years which could push the price up to $80m.

New York-based Abernathy will function as an independent unit within Havas Advertising’s Diversified Agencies Group.

www.havas-advertising.com



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